Canadian Alderon Iron Ore Corp. will conduct the investment of Kami Iron Ore Project with a worth of US$1 billion. Kami Iron Ore was started production in 2013, but was idled due to iron ore prices collapsed in 2014.

Recently, iron ore prices increased continuously, Director of Alderon was optimistic about Kami Iron Ore. If the progress was smooth, it was expected to officially start in the first half of 2020.

Kami Iron Ore was estimated to have a life span of about 24 years. If fully exploited, the mining life could reach 40 years.

On the other hand, Alderon and Schneider Electric signed a memorandum of cooperation for Kami project, covering equipment procurement and leasing and financing operation. The joint venture between two parties could reduce financial expenses and equipment costs, and greatly accelerate the progress.